Tiptree Financial (NASDAQ:TIPT) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Tiptree Financial from “Hold” to “Sell.” Weiss Ratings also lowered its assessment, while the broader analyst consensus remains “Hold.”
• Tiptree shares opened at $17.04, down 1%, with a 52-week range of $15.49 to $19.33 and a market capitalization of approximately $634.6 million.
• The company reported quarterly EPS of $0.14 on revenue of $11.05 million. Institutional investors own 37.78% of Tiptree, including newly reported positions from BlackRock and Heartland Advisors.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded Tiptree Financial from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Tiptree Financial Stock Down 1.0%

Shares of NASDAQ TIPT opened at $17.04 on Friday. Tiptree Financial has a twelve month low of $15.49 and a twelve month high of $19.33. The firm has a market cap of $634.57 million, a PE ratio of 1.57 and a beta of 0.95. The business has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $17.38.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $11.05 million for the quarter.

Institutional Trading of Tiptree Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Tiptree Financial in the second quarter valued at about $38,881,000. Heartland Advisors Inc. bought a new position in Tiptree Financial in the second quarter worth about $7,168,000. Gabelli Funds LLC lifted its position in shares of Tiptree Financial by 329.4% during the first quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider's stock valued at $5,324,000 after buying an additional 241,389 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Tiptree Financial by 175.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 273,061 shares of the financial services provider's stock valued at $4,620,000 after buying an additional 173,774 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Tiptree Financial during the second quarter valued at about $2,297,000. Institutional investors own 37.78% of the company's stock.

Tiptree Financial Company Profile

Tiptree Inc NASDAQ: TIPT is a diversified holding company focused primarily on insurance and specialty finance. Through its insurance operations, the company provides specialty property and casualty insurance products, warranty and service contract programs, and related risk-management solutions.

Tiptree's insurance business, operated primarily through Fortegra, serves consumers, businesses, retailers, manufacturers, and other distribution partners. Its offerings include specialty insurance, credit-related protection, motor vehicle products, travel protection, and extended service contracts.

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